Firm News

The Internal Revenue Service recently reminded U.S. citizens and resident aliens, including those with dual citizenship who have lived or worked abroad during all or part of 2012, that they may have a U.S. tax liability and a filing requirement…

The tax administrations from the United States, Australia and the United Kingdom announced on May 9th a plan to share tax information involving a multitude of trusts and companies holding assets on behalf of residents in jurisdictions throughout the world.…

IRS Criminal Investigation (CI) today released itsAnnual Report for fiscal 2012, highlighting strong gains in enforcement actions and penalties imposed on convicted tax criminals. The 28-page report summarizes a wide variety of IRS CI activity on a range of tax…

The Internal Revenue Service has expanded its Voluntary Classification Settlement Program (VCSP) paving the way for more taxpayers to take advantage of this low-cost option for achieving certainty under the law by reclassifying their workers as employees for future tax…

As reported by the Bankruptcy Law Network, the numbers are out for the April 1 inflation adjustment in dollar amounts in the bankruptcy code. The numbers increase 6.3%. Every three years, the bankruptcy numbers are automatically adjusted for the change…

In the aftermath of Hurricane Sandy, the Internal Revenue Service announced additional tax relief to affected individuals and businesses. The IRS today is further extending tax deadlines of that relief until April 1 for the following localities: In New Jersey (starting…

The Internal Revenue Service today announced a simplified option that many owners of home-based businesses and some home-based workers may use to figure their deductions for the business use of their homes. The new simplified option is available starting with…

Following the January tax law changes made by Congress under the American Taxpayer Relief Act (ATRA), the Internal Revenue Service announced today it plans to open the 2013 filing season and begin processing individual income tax returns on Jan. 30.…

The Internal Revenue Service released updated income-tax withholding tables for 2013 reflecting the changes by Congress to avoid the fiscal cliff. The updated tables, issued today after President Obama signed the changes into law, show the new rates in effect…

The net investment income tax will affect trusts and estates by creating planning opportunities and by imposing new income-tracking rules for the benefit of beneficiaries who may receive distributions with net investment income. The tax was created by the Health…